5038 Hazeltine Ave, Sherman Oaks, CA 91423

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Building Details:

• Year Built: 1969

Located in one of the best neighborhoods of the highly desirable and affluent city of Sherman Oaks, California and in one of the most centrally located areas of Los Angeles, this building is a Trophy property for a single owner or for large portfolio owners. Located directly across the street from from beautiful Sherman Oaks Park and in a walking neighborhood. Trader Joes, Sherman Oaks Galleria, Ventura Blvd and a myriad of international restaurants are very close. This building offers the many aspects of a luxury building that make it a highly desirable investment. Central air in all units, large spacious units, large patios, fire places, pool, elevator, open air hallways, gated covered parking garages, granite countertops, high ceilings and hard wood floors in many units, beautiful views! The neighborhood includes eight public and seven private schools. The building has been well maintained and rarely has a vacant unit. When a unit is available there have always been multiple applications to choose from. Tenants are a short drive to virtually all Los Angeles Hot Spots. ( Hollywood, Universal City, Pacific Ocean )This is a fabulous building.

• Offered by original owner/builder. Never before on the market
• Excellent Unit Mix - 3-3+2.75, 12-2+1.75 & 9-1+1
• 1Br-840 to 1,000sqft, 2Br -1,400sqft, 3Br-1,800-1,850sqft
• Three floors over gated parking - Elevator Building
• 38 Covered parking spaces - plus 6 open spaces
• Balconies, fireplaces, central HVAC and dishwashers
• Gated access with intercom - gated parking and alley access
• Pool and three laundry rooms
• 5.4% Cash on cash return at market rents
• 8.6% Total return at market rents
• 13%+ upside - 5.42 CAP rate at $1.51 market rent per foot
• Market rents estimated $1,650-$2,630
Market rent per square foot estimated at $1.40-$2.00
• 5.42 Capitalization Rate at $1.51 average market rent per foot